It was reported that Alcoa has signed an agreement with Kaiser Aluminum to sell its rolling mill, held by Alcoa Warrick Operations, for a total consideration of around US$670 million.
The rolling mill’s annual production capacity of flat-rolled aluminum is around 310,000 tons, which is used to produce food containers, cans, and bottles.
The deal only involved the rolling business. Alcoa will retain the ownership of the 269,000-ton aluminum smelter and its power generating facilities.
The transaction was expected to be completed by the end of the first quarter of 2021.
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